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Some member states have called on the EU to hand over the Russian Central Bank reserves to Ukraine (Photo: Alde)

EU: Russian assets to be returned in case of peace treaty

The EU on Wednesday (30 November) proposed a plan to confiscate frozen Russian assets — but has to navigate through difficult legal waters to make it work.

Legally it is only possible to seize frozen assets if the holder of those assets has been criminally convicted. It's also tricky to seize the funds because blacklisted Russians have often registered it to a family member or other person.

EU Commission president Ursula von der Leyen said the EU has "frozen €19bn of Russian oli...

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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